News & Analysis as of

Cyber Insurance Data Protection Risk Management

J.S. Held

Strategies to Avoid Cyber Insurance Claim Challenges: Part I

J.S. Held on

Cyber risk is now a normal part of our personal and professional lives. When companies suffer a cyber incident, they often look to their insurance policy for coverage to help mitigate the financial exposure. Additional...more

Woodruff Sawyer

Running to Stand Still: Practical Cybersecurity Governance Considerations for Boards and Management Teams

Woodruff Sawyer on

It’s obvious that strong cybersecurity governance should help to reduce a company’s risk of succumbing to a cybersecurity incident or being significantly impacted should one materialize. One major challenge: determining what...more

Integreon

Best Practices for Reducing the Cost of a Cyber Incident for Small to Mid-Sized Businesses

Integreon on

Originally published in American Business Magazine - May 2024. Many small- and mid-sized business owners believe that they are not prime targets for a cyber breach and that threat actors only go after large companies. This...more

K&L Gates LLP

The MOVEit Hack, Ransomware Attacks, and Cyber Insurance

K&L Gates LLP on

Ransomware attacks and cyber data theft are an unfortunate fact of life for businesses. Whether through attacks targeting individual companies or widespread campaigns carried out by exploiting vulnerabilities in third-party...more

Butler Snow LLP

Cybersecurity: What Businesses Need to Know

Butler Snow LLP on

Cybersecurity is a top concern for all industries, particularly for the pharmaceutical and medical device industries. These industries hold some of the most sensitive data and highly valuable technology, making them prime...more

Lowenstein Sandler LLP

London’s Nation-State Attack Exclusion: Game Changer For The Cyber Insurance Market or An Opportunity For Competition Within the...

Lowenstein Sandler LLP on

Lloyd’s of London’s new requirement that all insurers issuing standalone cyber coverage exclude liability for any state backed cyber-attacks could present a systemic risk to the insurance market, raising questions of coverage...more

Bradley Arant Boult Cummings LLP

Cybersecurity Basics Are Key to Combating Ransomware

The onslaught of ransomware attacks by cybercriminals increases unabated every year, affecting everyone from mom and pop shops on Main Street to corporate lions of Wall Street. Hackers infiltrate an organization's computer...more

Epiq

The Cyber Insurance Balancing Act

Epiq on

Threat actors are developing more sophisticated and strategic ways to target sensitive information. Digital footprints and tech usage will only keep expanding, which adds to vulnerability and presents more opportunities for...more

J.S. Held

How to Avoid the Most Common Causes of Cybersecurity Incidents

J.S. Held on

Cybercrime is at an all-time high, with just the cybercrime insurance industry alone expecting to grow from $8 billion globally in 2020 to $20 billion by 2025.1 Although cyber liability insurance policies now exist to help...more

Woodruff Sawyer

[Virtual Event] Cyber Insurance Trends – Looking Ahead to 2022 - January 25th, 10:00 am - 11:00 am PDT

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Cyber liability insurance is becoming more ubiquitous, more unpredictable, and in some cases more confusing than ever, which makes understanding your risk even more critical in 2022. Join Woodruff Sawyer experts Dan Burke,...more

Burr & Forman

Business Exposure to Internet Crime

Burr & Forman on

Each year, the Internet Crime Complaint Center (“IC3”) of the Federal Bureau of Investigation publishes its Internet Crime Report.  The IC3’s 2020 Internet Crime Report includes startling information about the continuing...more

Pillsbury - Policyholder Pulse blog

Insuring a King’s Ransom: The Role of Cyber Insurance in Ransomware Risk Management

Nearly 700 years ago, England captured King John II of France and held him for ransom for four million écus. But France could not afford to pay, and King John II ultimately traded his two sons as substitute hostages to try...more

Husch Blackwell LLP

New York’s DFS Publishes A Cyber Insurance Risk Framework

Husch Blackwell LLP on

Keypoint: New York’s Division of Financial Services (DFS) now requires Property and Casualty Insurers writing cyber insurance to comply with the Division’s Cyber Insurance Risk Framework to manage their risk. In her...more

Stoel Rives - Global Privacy & Security Blog®

Don’t let Cyber Insurance be Your Cybersecurity Plan

In a recent letter to insurers, the New York State Department of Financial Services (“NYDFS”) acknowledged the key role cyber insurance plays in managing and reducing cyber risk – while also warning insurers that they could...more

Akerman LLP

The New NYDFS Cyber Insurance Risk Framework – Required Reading for Insurers and Insureds

Akerman LLP on

The New York Department of Financial Services ("NYDFS") recently released its Cyber Insurance Risk Framework (the “Framework”), which provides best practices for managing cyber insurance risk....more

Alston & Bird

NYDFS Issues Best Practices for Cyber Insurance Risk Management

Alston & Bird on

Against the backdrop of the disruptions associated with the Covid-19 pandemic and SolarWinds cyber-espionage campaign, NYDFS has released guidance for insurers that underwrite cyber insurance policies and which contains a...more

Hogan Lovells

New York regulator issues cyber insurance risk framework with implications for insurers and insureds

Hogan Lovells on

On February 4, the New York Department of Financial Services (NYDFS) released Insurance Circular Letter No. 2 (2021), a Cyber Insurance Risk Framework (Framework) for insurers that write cyber insurance....more

Robinson+Cole Data Privacy + Security Insider

NYDFS Issues Cyber Insurance Risk Framework for Regulated Entities

In what the New York Department of Financial Services (NYDFS) is touting as the first guidance by a U.S. regulator on cyber insurance, NYDFS announced on February 4, 2021, in Insurance Circular Letter No. 2 (2021), that it...more

Jones Day

Accountability for Cybersecurity in Australia—A Major Regulatory and Litigation Risk

Jones Day on

There are showers, there are squalls, and there are storms. The growth in cybersecurity attacks in Australia, as in much of the world, is a storm and Australian companies need to batten down the hatches. In the period from 1...more

Bilzin Sumberg

Data Security for Owners and Contractors: Protect Construction Investments From Catastrophic Loss

Bilzin Sumberg on

Long before the COVID-19 pandemic, the construction industry was "going global" using available technology and cloud-based data storage and file sharing on all phases of projects. For example, a project owner might hire a...more

Bradley Arant Boult Cummings LLP

3 Cyber Insurance Steps Critical to Cyber-Risk Management

Cyber-related privacy and security risks continue to evolve like the hydra from Greek mythology. Once one threat has been addressed, two new threats seem to appear. Even the most well-prepared among us must remain vigilant in...more

Lowndes

NASA Contractor Breached by Ransomware: Finally Time to Pay Attention to Your IT Security?

Lowndes on

The ransomware gang DopplePaymer announced yesterday that it had breached the network of Digital Management Inc. (DMI), a provider of managed information technology and cybersecurity services that had apparently supplied...more

Society of Corporate Compliance and Ethics...

[Event] Virtual 2020 Richmond Regional Compliance & Ethics Conference - May 8th, Richmond, VA

Our Virtual Regional Compliance Conferences provide updates on the latest news in regulatory requirement, compliance enforcement, and strategies to develop effective compliance programs. Watch, listen, and ask questions from...more

Burr & Forman

Insurance Coverage for Cybercrimes in the Wake of COVID-19

Burr & Forman on

Attorneys are well aware of the ways in which corporate clients are increasingly conducting their business and affairs electronically. A business may routinely place orders with trusted vendors via e-mail, rely on the...more

Locke Lord LLP

Privacy And Cybersecurity Work From Home Considerations In The Context of Coronavirus

Locke Lord LLP on

We want to enable our personnel to work from home during this health crisis. What do we need to worry about from a privacy and cybersecurity perspective? 1.Equipment. Personnel working remotely will need equipment, and you...more

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